East China Aluminum: Spot Fails to Rise Along with Futures

SHANGHAI, Jun. 28 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,400-15,430/mt on Thursday, and low-iron aluminum was traded between RMB 15,500-15,520/mt in Shanghai. SHFE current-month aluminum contract price rallied to RMB 15,400/mt, up RMB 200/mt, raising selling interest of cargo holders, but downstream buyers rarely inquired due to tight cash flows. Thus, spot aluminum prices did not rise along with SHFE aluminum prices, causing spot discounts expanding to RMB 30/mt. Trading remained light.